Sole Proprietor VS. LLC

Faus

Hello StartupNation Community,
My wife and I are starting a Nanny Placement agency and are unsure of the business structure that would be best for us. Other than the "protection" that LLCs provide, are there any other differences between these two business entities?
Thanks,
Steve

Faus

Thanks for the help.
 
I live in California but want to avoid the tremendous amount of taxes from this state. Can you operate an LLC in a different state in which it is registered  like a corporation?
 
 

MattThomas

There are certain fees that are cheaper in other states if you incorporate elsewhere (Delaware is often regarded as a great state to incorporate in for this reason), but as Mark mentioned, you can`t avoid the state taxes.

WebJunky

forget about taxes, forget about all else....i am surprised you have not considered the liability aspect.  you are risking your bank account, car, house and your shirt if you are going at it solo...take advantage of the corporate veil and protect yourself!

WebJunky

best to start locally wherever you are at....but if you want to look out due to costs then consider MI. it is $25